A Transfer Payment Is

question 7

Multiple Choice

A transfer payment is

• A)a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location.
• B)a payment that is automatically transferred from your bank account to pay a bill or some other obligation.
• C)a form of government spending that is not made in exchange for a currently produced good or service.
• D)the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure.

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Definitions:

Negotiation

(1) A bargaining process in which disputing parties interact informally to attempt to resolve their dispute. (2) The transfer of the rights to a negotiable instrument from one party to another.

Time Instrument

A type of draft that allows the payee to collect payment only at a specific time in the future.

Expressed Due Date

The specific date mentioned in a contract or agreement by which a task must be completed or a payment must be made.

Overdue

Referring to a payment, task, or other obligation not completed or submitted by its expected or agreed-upon deadline.